Home Insurance in New London, Connecticut
With a median home value of $253,300, New London is 22% lower than the Southeastern Connecticut Planning Region median.
The typical home in New London was built around 1945. About 64% of homes were built before 1960, about 25 points above Southeastern Connecticut Planning Region's 38%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in New London breaks down to 35% single-family homes, 34% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In New London, about 63% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 36% of occupied homes in New London are owner-occupied.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In New London, 42% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near New London? FEMA's National Risk Index points to hurricane (Relatively High) in Southeastern Connecticut Planning Region and Southeastern Connecticut Planning Region had 2,918 active NFIP flood policies as of September 2026. See the full Southeastern Connecticut Planning Region home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Connecticut carries a statewide average premium of $2,036 per year.
Key figures
| Median home value | $253,300 |
|---|---|
| Median year built | 1945 |
| Owner-occupied share | 36% |
| Share of owner-occupied homes with a mortgage | 63% |
| Top county hazard | Hurricane (Relatively High) |
| Active NFIP policies in Southeastern Connecticut Planning Region | 2,918 |
| Home insurance premium | $2,036 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)